Trust Point Inc. Has $277,000 Position in Ameriprise Financial, Inc. (NYSE:AMP)

Trust Point Inc. increased its holdings in Ameriprise Financial, Inc. (NYSE:AMP) by 5.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 589 shares of the financial services provider’s stock after purchasing an additional 30 shares during the period. Trust Point Inc.’s holdings in Ameriprise Financial were worth $277,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Retirement Group LLC acquired a new position in shares of Ameriprise Financial in the 1st quarter worth approximately $25,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Ameriprise Financial by 268.8% during the second quarter. DiNuzzo Private Wealth Inc. now owns 59 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 43 shares during the period. Accordant Advisory Group Inc acquired a new stake in shares of Ameriprise Financial in the 2nd quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Ameriprise Financial in the 1st quarter valued at $28,000. Finally, Mascoma Wealth Management LLC grew its holdings in shares of Ameriprise Financial by 153.8% in the 2nd quarter. Mascoma Wealth Management LLC now owns 66 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 40 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. The Goldman Sachs Group lowered shares of Ameriprise Financial from a “buy” rating to a “neutral” rating and reduced their price target for the company from $485.00 to $476.00 in a research report on Thursday, September 26th. Royal Bank of Canada increased their price target on Ameriprise Financial from $500.00 to $535.00 and gave the stock an “outperform” rating in a research report on Friday, October 11th. UBS Group lifted their price objective on Ameriprise Financial from $490.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Jefferies Financial Group increased their target price on Ameriprise Financial from $500.00 to $504.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Piper Sandler lowered their target price on Ameriprise Financial from $390.00 to $387.00 and set an “underweight” rating for the company in a research note on Friday, June 28th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $480.44.

Ameriprise Financial Stock Performance

Ameriprise Financial stock opened at $523.16 on Friday. The company has a market cap of $51.96 billion, a PE ratio of 17.81, a PEG ratio of 0.81 and a beta of 1.35. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.16. Ameriprise Financial, Inc. has a 1 year low of $306.63 and a 1 year high of $524.89. The company’s 50-day moving average is $457.59 and its two-hundred day moving average is $437.23.

Ameriprise Financial (NYSE:AMP) last announced its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $8.72 earnings per share for the quarter, beating the consensus estimate of $8.53 by $0.19. Ameriprise Financial had a net margin of 18.64% and a return on equity of 73.83%. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the business posted $7.44 earnings per share. Ameriprise Financial’s revenue was up 9.6% compared to the same quarter last year. Equities analysts anticipate that Ameriprise Financial, Inc. will post 34.92 earnings per share for the current year.

Ameriprise Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were paid a dividend of $1.48 per share. The ex-dividend date was Monday, August 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.13%. Ameriprise Financial’s dividend payout ratio (DPR) is presently 20.15%.

Insider Buying and Selling

In other news, VP William Davies sold 8,700 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $442.07, for a total transaction of $3,846,009.00. Following the completion of the transaction, the vice president now directly owns 13,199 shares in the company, valued at approximately $5,834,881.93. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.73% of the stock is owned by insiders.

Ameriprise Financial Company Profile

Ameriprise Financial, Inc, together with its subsidiaries, provides various financial products and services to individual and institutional clients in the United States and internationally. It operates through four segments: Advice & Wealth Management, Asset Management, Retirement & Protection Solutions, and Corporate & Other.